Mike Novogratz's Galaxy Digital Joins Ripple In Europe Expansion

Investment group Galaxy Digital expanding further into Europe due to a crypto crackdown by U.S. financial regulators and stringent regulatory conditions. Galaxy Digital has appointed a former executive from crypto broker Genesis to head its operations in Europe and continue seeking expansion opportunities in the region amid the MiCA crypto regulation.

Galaxy Digital Expands Focus to Europe

Billionaire Mike Novogratz’s crypto group Galaxy Digital expanding to Europe from its office in London, England. Galaxy Digital has appointed Leon Marshall as chief executive officer (CEO) to head the company’s European expansion plans and manage operations and key client relationships.

Michael Novogratz, Founder of Galaxy Digital, said:

“We are thrilled to name Leon as the CEO of Europe, a region that is critically important to our growth strategy. Leon’s tremendous leadership skills and strong track record of developing and scaling digital asset products for European institutional investors will be invaluable to us as we continue to scale our operations in the U.K. and continental Europe aggressively.”

Marshall’s appointment as CEO of Europe follows a strategic alliance with asset management firm DWS. The firms will offer a suite of digital asset exchange-traded products (ETPs) in Europe. Marshall will continue to serve as Galaxy’s global head of sales.

Crypto Firms Looks To Crypto-Friendly Countries

Galaxy Digital has joined other crypto firms such as Ripple Labs to expand in Europe and other crypto-friendly countries such as Singapore and the UAE. Ripple CEO Brad Garlinghouse said regulators in the U.S. doing nothing for regulatory clarity.

Europe is seen as an opportunity by crypto firms amid the crypto crackdown in the U.S. and EU’s Markets in Crypto-Assets Regulation (MiCA) law.

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